Major stock markets in the Gulf rose in early trade on Monday, with Dubai on course to extend gains for a sixth session, although Qatar bucked the trend to trade lower.

In Abu Dhabi, the index advanced 1.2%, buoyed by a 2.8% rise in the country's biggest lender First Abu Dhabi Bank.

Saudi Arabia's benchmark index edged up 0.1%, helped by a 0.3% increase in petrochemical firm Saudi Basic Industries.

Among others, Fawaz AbdulAziz Alhokair jumped about 6% following franchise agreements with Alo Yoga and Flying Tiger Copenhagen. 

However, Etihad Etisalat fell 0.8%, as the telecoms firm traded ex-dividend.

Dubai's main share index added 0.1%, with its top lender Emirates NBD advancing 0.8%, while sharia-compliant lender Dubai Islamic Bank gained 0.4%.

Emirates NBD sold $750 million in Additional Tier 1 bonds on Thursday after receiving more than $1.75 billion in orders for them, a document showed. 

Elsewhere, DAMAC Properties advanced 2.1%.

House prices in Dubai are expected to rise for the first time in six years in 2021, supported by a swift vaccine rollout that has lifted hopes for economic recovery, a Reuters poll of property analysts showed.  

In Qatar, the index lost 0.7%, with most of its stocks in negative territory, including Industries Qatar, which fell more than 2%.

 

(Reporting by Ateeq Shariff in Bengaluru; Editing by Kirsten Donovan) ((AteeqUr.Shariff@thomsonreuters.com; +918061822788;))